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Seanad
‹ Order of Business

Mortgage possession cases

Summary

Senator Kelly asks the Finance Minister to intervene where banks may repossess homes despite borrowers’ ability to make substantial partial payments.

I have. It appears that if somebody cannot acquire the type of money required to satisfy the bank - in other words, if he or she has a debt of €150,000 and the most he or she can come up with is €90,000, and the bank realises it can get more by selling the person's home, it can sell the person's home. I ask the Leader to ask the Minister for Finance to intervene personally in these cases, because people will lose their homes. The banks have proven that they will do whatever it takes to get their money.

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